Thursday's News Links

[Reuters] Dow's 20,000 barrier, weak European banks dent stocks

[Bloomberg] Offshore Yuan Near 7 a Dollar on Quota Reset Concern, Trump Bets

[Reuters] U.S. goods trade deficit widens; labor market near full strength

[Bloomberg] American Consumer Comfort Closes In on Best Year Since 2007

[Reuters] U.S. shale companies to boost spending as banks loosen purse strings

[Bloomberg] Foreign Students Offer Lifeline to Cash-Strapped U.S. State Schools

[Bloomberg] China’s Money Market Pain Is About to Get Worse

[Reuters] Italy criticises ECB over Monte Paschi capital decision

[Bloomberg] China Vows More Proactive Fiscal Policy in 2017, to Limit Debt

[WSJ] China Hits Reset on Yuan Fixing

[FT] Final quarter of blockbuster deals boosts M&A activity

[Bloomberg] Taiwan's Tsai to transit in U.S. in move bound to anger China

[Bloomberg] Who's Had the Worst Year? How Asian Leaders Fared in 2016

Wednesday Afternoon Links

[Bloomberg] U.S. Stocks Drop as Dollar Rises; Crude Tops $54: Markets Wrap

[Reuters] Pending home sales drop to 10-month low in November

[CNBC] El-Erian warning: 'Big negative shock' can spur liquidity crisis

[Japan News] Top international news events in 2016 reflect a world shaken by populism

[FT] A Brazilian bribery machine

Wednesday's News Links

[Bloomberg] Crude Rally Lifts Commodity Currencies; Bonds Rise: Markets Wrap

[Bloomberg] Asian Stocks Advance While Crude and Yen Retreat: Markets Wrap

[Bloomberg] China Banking Official Urges Cut to Required Reserve Ratio

[Bloomberg] No Happy New Year in China as Currency, Liquidity Fears Loom

[Reuters] Germany says Italy must stick to European rules on Monte Paschi

[Bloomberg] Record Run for Company-Bond Sales Seen Screeching to a 2017 Halt

[Bloomberg] Britons Hoard Cash as Economic Uncertainties Prompt Caution

[Reuters] Writedown fears send Toshiba shares down 20%, hit daily limit

[Bloomberg] The Bond Bear That's Staying in the Cold

[CNBC] Hedge fund managers are raging bulls on the rally

[Bloomberg] As Populists Won 2016 Ballots, World’s Richest Made $237 Billion

[Bloomberg] Manhattan Luxury Co-Ops Fall Out of Favor

[WSJ] As Home Prices Rise, Flippers Make a Comeback

[WSJ] The Year in Markets: 2016 in Nine Charts

[CNBC] U.S., China may fall into "cycle of retaliation" next year on trade: Economist

[Reuters] Quoting Mao, China says Taiwan, HK independence supporters will fail 'like flies'

Tuesday Evening Links

[Reuters] Wall St. edges up in low volume, boosted by tech shares

[FT] Corporates lead surge to record $6.6tn debt issuance

Tuesday's News Links

[Bloomberg] U.S. Stocks Rise to High as Oil Gains, Bonds Fall: Markets Wrap

[Bloomberg] U.S. Consumer Confidence Jumps to Highest Level Since 2001

[Bloomberg] Americans’ Market Sentiment Jumps Most Since Dot-com Boom: Chart

[Bloomberg] Home Prices in 20 U.S. Cities Increased 5.1% in October

[Bloomberg] Yuan Turnover Soars in Sign of December Outflow Pressures

[Reuters] ECB tells Monte dei Paschi it needs to raise $9.2 billion

[Reuters] Italy set to pump around 6.5 billion euros into Monte Paschi rescue: sources

[Bloomberg] Odd Lots: These Were the Most Interesting Stories of 2016

[Dow Jones] Brazil’s Government Deficit Widens to 9.28% of GDP in November

[WSJ] Trump’s Financial Deregulation Might Be Bad News for Banks After All

[WSJ] Surging Buybacks Say Stock Boom Isn’t Over

[WSJ] Dollar’s Rise Threatens Manufacturing Recovery

[Reuters] Russia calls U.S. move to better arm Syrian rebels a 'hostile act'

[Reuters] Taiwan warns of increasing threat as Chinese warships conduct drill

[WSJ] Xi’s Power Play Foreshadows Historic Transformation of How China Is Ruled

Monday's News Links

[Bloomberg] Global Shares Mixed With Yen Gaining in Thin Trade: Markets Wrap

[Bloomberg] Asian Stocks Drop to 1-Month Low; Japan Down in Thin Trading

[Bloomberg] China Bank Says Bond Guarantee Forged as Market Mood Worsens

[Reuters] China needs to regulate 'money gates' but guard against financial stress: state media

[Reuters] ECB's Weidmann says Monte dei Paschi bailout must be carefully weighed: Bild

[Reuters] How JPMorgan could not save Italy's problem bank

[Reuters] Kuroda defends BOJ's yield curve control, upbeat on global outlook

[Bloomberg] Odd Lots: These Were the Most Interesting Stories of 2016

[CNBC] Suddenly hot smart home devices are ripe for hacking, experts warn

[Reuters] Chinese carrier enters South China Sea amid renewed tension

Saturday's News Links

[Reuters] Stocks could suffer as Trump trade policy takes shape

[Reuters] Bundesbank brings home gold faster than planned: Weidmann

[NYT] Where Does the Mortgage Settlement Money Go?

[WSJ] Sovereign-Wealth Funds Threatened by Government Spending

[WSJ] Italy Eyes Exemption to Spare Monte Paschi Bond Holders

CBB back next week

The timing of the worst ice storm in decades was especially inconvenient.  We lost our electricity for eight days, which makes one better appreciate the simple things in life.  I was hoping to write this week, but there simply wasn’t time to get everything done.  Back next week.  Merry Christmas and Happy Holidays to everyone.  doug

Friday Afternoon Links

[Bloomberg] Treasuries Rise With U.S. Stocks Before Holiday: Markets Wrap

[WSJ] China’s Securities Regulator Signals Greater Oversight of Asset Managers, Brokerages

[Politico] Trump challenges the world order

[FT] Monte dei Paschi bailout comes under fire in Berlin

Friday's News Links

[Reuters] Banks lift global stocks, dollar holds near 14-year peak

[Reuters] Asia stocks pressured by Wall Street, dollar holds below 14-year peak

[Bloomberg] Sales of New U.S. Homes Rise to Second-Fastest Pace Since 2008

[Bloomberg] Monte Paschi’s Fatal Sin Brings Nationalization for Oldest Bank

[Bloomberg] Monte Paschi Rescue Pushes EU Bank-Failure Rules to the Brink

[UK Guardian] Italian cabinet gives green light to Monte dei Paschi di Siena bailout

[CNBC] Trade concerns bubbling up, as Wall Street winds down for holidays

[CNBC] The most important thing from Carl Icahn's 40-minute CNBC interview

[Bloomberg] President Xi Open to Growth in China Falling Below 6.5%

[Bloomberg] China's Stalling Bond Engine Creates a Policy Dilemma

[Bloomberg] Canada’s Economy Shrinks on Worst Factory Output Since 2013

[Bloomberg] Deutsche Bank, Credit Suisse Settle U.S. Subprime Probes

[Reuters] How Deutsche's big bet on Wall Street turned toxic

[Dave Collum] 2016 Year in Review

[Reuters] Chinese media alarmed at Trump trade adviser, warn of U.S. showdown

[NYT] Deutsche Bank to Settle Mortgage Inquiry for $7.2 Billion

[NYT, Stewart] Hedge Fund Math: Heads We Win, Tails You Lose

[WSJ] Italy Sets Up Fund to Help Troubled Banks

[FT] Beijing fires trade warning after Trump appoints China hawk

Thursday's News Links

[Bloomberg] Dollar Resumes Trump-Fed Rally, Bonds Fall on Data: Markets Wrap

[Reuters] Asian shares slip in holiday-thinned trade, focus turns to U.S. data

[Bloomberg] U.S. Economic Growth Revised Up to 3.5% Pace in Third Quarter

[Bloomberg] U.S. Mortgage Rates Jump to More Than 2-Year High After Fed Hike

[Bloomberg] The VIX Is at a Two-Year Low, But Volatility Trading Is Surging

[Bloomberg] Xi Again Pledges to Curb Speculation in China Property Market

[Reuters] China's Xi calls for wide-ranging measures to regulate hot property market

[CNBC] BMPS fails to pull off last-ditch rescue plan; state bailout on the way?

[Dow Jones] Mexican Inflation Gathers Speed in December

[WSJ] Donald Trump’s New Appointments Shake Up Trade, Regulation

Wednesday Evening Links

[Bloomberg] U.S. Stocks Decline as Oil Slips With Dollar: Markets Wrap

[CNBC] Trump picks China hawk Peter Navarro for new trade post

[CNBC] Trump to name Icahn as special adviser on regulatory overhaul, will help to select SEC head

[Reuters] Exclusive: Investors shun Italian bank Monte Paschi's share offer - sources

[CNBC] Bad loans, bad growth, bad politics: Things are tough for European banks

[NYT] Investors Worry as Financial Picture of Italy’s Oldest Bank Deteriorates

Wednesday's News Links

[Bloomberg] Dow Flirts With 20,000 as Oil Gains, Dollar Slips: Markets Wrap

[Bloomberg] Paschi Falls to Record as Investors Balk, Liquidity Dries Up

[Bloomberg] Asian Equities Gain as Dow Hits Record, Oil Climbs: Markets Wrap

[Reuters] U.S. existing home sales rise to near 10-year high

[Reuters] Italy lawmakers approve 20 billion euro plan to prop up banks

[Reuters] Spanish banks face $4.2 billion hit from European court's loan ruling

[Bloomberg] Yuan Bears Strike as Capital Outflows Override PBOC Support

[Bloomberg] Fed Blurs Intentions as Dots Drift Away From Economic Forecasts

[Reuters] U.S. mortgage activity edges up even as rates head higher

[Bloomberg] Italy Bank Rescue Won’t Fill $54 Billion Hole on Their Books

[Reuters] Modi losing friends as anger grows over Indian cash crackdown

[FT] Monte dei Paschi di Siena poised for state bailout

[WSJ] China’s Bond Warning

[WSJ] Percentage of Young Americans Living With Parents Rises to 75-Year High

[Reuters] Kremlin says almost all communication channels with U.S. are frozen: RIA

Tuesday Evening Links

[Bloomberg] U.S. Stocks, Dollar Rise in Sign of Resilience: Markets Wrap

[Bloomberg] IMF Doubles Down on Lagarde as Trump Aims to Upend World Order

[CNBC] CEOs, who are supposed to love Trump, are dumping stock during the postelection rally

Tuesday's News Links

[Bloomberg] Stocks Climb as Markets Show Resilience; Bonds Drop With Gold

[Bloomberg] China Sovereign Bonds Slump as Wealth Curbs Seen Hitting Demand

[Bloomberg] Asian Shares Fall on Europe Turmoil; Yen Weakens After BOJ Move

[Bloomberg] Japan's Central Bank Keeps Policy Unchanged, Upgrades Economic Outlook

[Bloomberg] Saving Italy’s Banks Means Missing Public Debt Target Once Again

[Bloomberg] Global Bond Investors Now Losing Most Sleep Over Rising Populism

[Bloomberg] Goldman Says Bonds, not Stocks, Have Properly Priced In Trumponomics

[NYT/CNBC] Trump’s Treasury Pick Moves in Secretive Hedge Fund Circles

[FT] Italy seeks up to €20bn to prop up fragile lenders

[FT] 2016’s biggest one-day market wobbles

[WSJ] Companies Face Delays Getting Cash Out of China

[WSJ] China Throws Out South China Sea Rule Book

[FT] China’s ‘airpocalypse’ hits half a billion people

Monday's News Links

[Bloomberg] U.S. Stocks Fluctuate as Yen, Treasuries Strengthen With Gold

[CNBC] Russian ambassador to Turkey dies after being shot in Turkish capital

[Bloomberg] China H Shares Drop to Four-Week Low as Builders, Insurers Fall

[Bloomberg] Oil Extends Advance Above $52 as Libyan Output Comeback Stalls

[Reuters] Global corporate defaults hit 150 for 2016, most since financial crisis

[Reuters] Dispute could sink Italian bank Monte Paschi's rescue plan

[Reuters] Goldman Warns China Outflows Rising in Both Yuan Payments, Forex

[Bloomberg] China Home-Price Growth Slows as Property Curbs Dent Demand

[Bloomberg] Decision-Day Guide: Kuroda View on Yields in Focus as BOJ Meets

[Bloomberg] IMF Head Christine Lagarde Convicted in French Negligence Trial

[Bloomberg] As Trump Tweets, China Quietly Weighs Options to Retaliate

[Bloomberg] Four Years of Living Dangerously: CEOs Brace for the Trump Era

[Bloomberg] China Must Curb Speculation Amid Bubble, Top Official Says

[WSJ] Companies Face Delays Getting Cash Out of China

[WSJ] Bond Selloff Shows Risks of China’s Efforts to Restrain Credit

[FT] China’s bull market in bonds on borrowed time

[FT] Key HK renminbi lending rate stuck at exactly 10% for second straight day

[FT] Investors betting on more US-Japan divergence

[WSJ] ECB’s New Dilemma: Neediest Nations Receive Less Stimulus

[FT] How David Cameron lost his battle for Britain

Sunday's News Links

[Bloomberg] Dollar Bets Rise; Crude Extends Drone Gain as U.S. Futures Climb

[Bloomberg] Ukraine’s No. 1 Bank to Be Nationalized as Tycoons’ Rescue Fails

[FT/CNBC] Wall St economists doubtful Fed will deliver on rate rises

[Reuters] As yuan weakens, Chinese rush to open foreign currency accounts

[Bloomberg] Gone in 60 Seconds: Chinese Snap Up Dollar Funds as Yuan Tanks

[WSJ] Rising Rates Ripple Through Mortgage Market

[WSJ] ‘Great Rotation’ Fund Flows Accelerate

Friday's News Links

[Bloomberg] Dollar Hits Speed Bump in Fed-Driven Rally; Bonds Stem Declines

[Reuters] Asia stocks tepid, dollar near 14-year peak on Fed rally

[Bloomberg] China Bonds Set for Worst Week Since 2009 as Fed Adds to Stress

[Reuters] Regulator tells China bond market makers to keep trading despite liquidity crunch - sources

[Bloomberg] Draghi Said to Warn EU That Rising Global Rates Pose Crisis Risk

[Bloomberg] Turks Seek Gold More Than Liras in Response to Erdogan’s Call

[Bloomberg] China Plans Prudent, Neutral Monetary Policy for Next Year

[CNBC] Dr Doom Marc Faber: Trump trade war will hurt US more than China

[Reuters] China holds first live-fire drills with aircraft carrier, warships

Thursday's News Links

[Bloomberg] Dollar Climbs to Strongest Since 2003 on Fed Path; Bonds Drop

[Bloomberg] China’s 10-Year Sovereign Bond Yield Surges by Most on Record

[Reuters] Asia stocks, currencies wobble as Fed flags more hikes

[Bloomberg] Consumer Prices in U.S. Increase for Fourth Consecutive Month

[Bloomberg] R.I.P. Bond Bull Market as Charts Say Last Gasps Have Been Taken

[Bloomberg] It's Turning Into a Really Bad Week for China’s Markets

[Bloomberg] China’s Record Bull Run in Bonds Is Giving Way to a Market Rout

[Reuters] Italy ready to recapitalise ailing banks with 15 billion euros: sources

[Reuters] Targeting U.S. automaker signals possible China retaliation over Trump talk

[Bloomberg] Hong Kong Property Shares Turn Toxic as Mortgage Costs Spike

[Reuters] Chinese ambassador to U.S.: Sovereignty not a 'bargaining chip'

[FT] EM currencies drop by most in a month after Fed decision

[WSJ] Janet Yellen and Donald Trump Are on the Same Page, for Now

Wednesday Afternoon Links

[Bloomberg] Here Are Some of the Markets Making Big Moves After the Fed Announcement

[MarketWatch] Emerging-market currencies slump after Fed decision

[Bloomberg] Fed Raises Rates, Boosts Outlook for Borrowing Costs in 2017

[Reuters] Dovish tilt at Fed next year could meet hawkish Trump picks

[Reuters] U.S. IPOs set to rebound after dismal 2016

[Bloomberg] Shadow Banking in China Appears to Have Made a Roaring Comeback